Latest News
Foreign direct investment in US decreases by 28% in 2023
By Globe Banner | Jul 12, 2024
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses reached $148.8 billion in 2023, according to preliminary data from the U.S. Bureau of Economic Analysis.
World Bank approves funding for Botswana's renewable energy initiatives
By Globe Banner | Jul 12, 2024
GABORONE, July 12, 2024 - The World Bank’s Board of Directors has approved its first lending operation supporting renewable energy development in Botswana. The Botswana Renewable Energy Support and Access Accelerator (RESA) Project, approved on July 11, 2024, aims to transform the country’s energy landscape through enabling renewable solutions and improved electricity access.
US Embassy announces upcoming vehicle procurement solicitation
By Globe Banner | Jul 12, 2024
The Embassy of the United States in Turkmenistan has announced a pre-solicitation notice for vehicle procurement for the Ashgabat Post.
Jamaica attracts $520M private investment with World Bank support
By Globe Banner | Jul 11, 2024
Jamaica, like many countries in the region, faces significant infrastructure deficits in key sectors such as transport, energy, water, telecommunications, and social services. According to the Inter-American Development Bank (IDB), the infrastructure investment gap in Latin America and the Caribbean is estimated at US$150 billion per year.
WTO emphasizes role of climate-smart connectivity in global supply chains
By Globe Banner | Jul 11, 2024
In a recent address, Deputy Director-General Ellard of the World Trade Organization (WTO) emphasized the critical role of climate-smart connectivity and digital trade in enhancing regional and global integration, as well as sustainable development. The speech highlighted how connectivity serves as the cornerstone of effective supply chains in today's global economy, particularly in light of disruptions such as COVID-19, geopolitical tensions, and environmental challenges.
World Bank official highlights China's role in global development at CIDCA conference
By Globe Banner | Jul 11, 2024
Distinguished Colleagues,
World Bank Group launches new framework for resilient growth in Tanzania
By Globe Banner | Jul 11, 2024
The World Bank Group’s Board of Executive Directors has endorsed a new Country Partnership Framework (CPF) for Tanzania. This initiative aims to support the nation in consolidating its middle-income status, achieving high levels of human development, and contributing to the World Bank Group’s mission to end extreme poverty and boost prosperity on a livable planet.
World Bank provides additional funding for hydropower project in Kyrgyz Republic
By Globe Banner | Jul 11, 2024
The World Bank’s Board of Executive Directors approved $13.6 million in additional financing to supplement the ongoing $5 million Technical Assistance for Kambarata-1 Hydropower Plant (HPP) Project in the Kyrgyz Republic. The project aims to support the Government of the Kyrgyz Republic in preparing the Kambarata-1 HPP project sustainably.
Digitalization in trade facilitation highlighted at WTO meeting
By Globe Banner | Jul 11, 2024
Five members — China, Colombia, Ecuador, Lao People's Democratic Republic, and the Republic of Moldova — shared their experiences of using digitalization to facilitate trade at a recent trade facilitation meeting. Their presentations aligned with the committee's 2024 focus on this topic.
FFIEC releases comprehensive report on mortgage lending activities in U.S.for23
By Globe Banner | Jul 11, 2024
WASHINGTON, D.C. (July 11, 2024) – The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
Mali improves healthcare access through international support programs
By Globe Banner | Jul 11, 2024
Ms. Salama Traoré, during her seventh pregnancy, finally received adequate health care at a community health center in Bamako. She expressed relief, recalling past hardships. "My first six children were born at home because my husband and I couldn't afford the cost of pre- and post-natal care," she said, noting the loss of two children due to inadequate care. Ms. Traoré now benefits from the Accelerating Progress Toward Health Coverage Project (PACSU), which provides quality health care to Mali's poorest.
World Bank-backed initiative improves road safety across Madhya Pradesh
By Globe Banner | Jul 11, 2024
Young girls at the Senior Secondary School in Madhya Pradesh’s Raruarai village in Dhar district were hesitant to go to school. Harassed daily by bystanders outside the school, girls found the journey to school a daunting experience, impacting their education. Sixteen-year-old student Manisha Chauhan recalls, “I live in the girls' hostel next door and didn’t feel safe even walking the 50 meters from the hostel to the school. There were vendors everywhere, buses stopped haphazardly, and always a crowd of men who made us all walking together feel uncomfortable.”
WTO explores ways to boost least developed countries' capacity in services trade
By Globe Banner | Jul 11, 2024
WTO members recently convened to explore strategies for enhancing the capacity of Least Developed Countries (LDCs) to participate in services trade. Speakers emphasized that LDCs face significant challenges, including infrastructure issues, skills development, regulatory environments, and limited technological capacity. The necessity of international cooperation was highlighted, with several speakers advocating for an Aid for Trade roadmap to address these constraints.
Efforts underway to transform remittance landscape for economic empowerment
By Globe Banner | Jul 11, 2024
June 16th marked the International Day of Family Remittances, a significant occasion for millions worldwide. To honor this day, the World Bank, in collaboration with the Bank of Albania, organized the MONEY smART Exhibition. This event aimed to highlight the crucial role remittances play in Albania's economy—as a lifeline for families, a macroeconomic stabilizer, and a gateway to financial inclusion. The exhibition was part of the Remittances and Payments Program (RPP), which is implemented across the Western Balkans with financial support from the Swiss Secretariat of...
U.S. Embassy announces online auction for July 2024
By Globe Banner | Jul 10, 2024
The U.S. Embassy has announced plans to conduct an online auction starting on July 10, 2024.
World Bank joins multilateral banks in commitment to sustainable procurement
By Globe Banner | Jul 10, 2024
The World Bank has joined eleven other Multilateral Development Banks (MDBs) to release a statement reflecting their commitment to integrating sustainable procurement into their development operations.
WTO conducts trade policy review for Jamaica
By Globe Banner | Jul 10, 2024
The following documents are available:
US ambassador in Turkmenistan seeks housekeeper for residence
By Globe Banner | Jul 10, 2024
The United States Ambassador to Turkmenistan is currently seeking a housekeeper for the Chief of Mission Residence located at the New Embassy Compound in Ashgabat.
Ellard urges swift action on fisheries subsidies at FAO meeting
By Globe Banner | Jul 10, 2024
At a recent meeting of the Food and Agriculture Organization (FAO), Deputy Director-General Angela Ellard emphasized the urgent need to complete critical work on fisheries subsidies. "The sustainability of fisheries is a growing emergency for nations worldwide as the deterioration of fish stocks accelerates unabated. Many millions of people worldwide depend on marine fishing for income, food security, and livelihood. Sustainable management of our ocean resources is therefore essential for our future," DDG Ellard stated.
Nigerian blockchain association: Detention of Binance exec has 'significant implications for the national interest' of Nigeria
By Globe Banner | Jul 10, 2024
The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) has expressed concerns regarding the ongoing detention of Binance employee Tigran Gambaryan and its potential impact on Nigeria's domestic industries and international standing. BICCoN shared its statement in a June 24 post on its website.